Inclusion of foreign tax withheld amounts as deemed income to align income computation with foreign tax credit claims. Proposed amendment deems amounts deducted under Chapter XVII-B and income tax paid outside India by way of deduction, where credit is allowed against tax ... Summary
Inclusion of foreign tax withheld amounts as deemed income to align income computation with foreign tax credit claims.
Proposed amendment deems amounts deducted under Chapter XVII-B and income tax paid outside India by way of deduction, where credit is allowed against tax payable under the Act, to be income received for computing an assessee's total income, preventing under reporting and double benefit from foreign tax credits.
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